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Likurg_2 [28]
3 years ago
13

This year, Herb Partnership generated $740,000 ordinary business income. Herb has two equal partners: Savory LLC and Sweet Corp.

, an S corporation. Savory LLC has three members: Mr. Parsley, an individual who owns a 40 percent interest; Mrs. Rosemary, an individual who owns a 35 percent interest; and Sage Inc., a C Corporation which owns a 25 percent interest. Sweet Corp. has 100 shares of outstanding stock, all of which are owned by Ms. Mint, an individual.
Required:
Identify the taxpayers who must pay tax on the partnership income, and determine how much income must be reported by each.
Business
1 answer:
nekit [7.7K]3 years ago
7 0
No equivalent fraction of the equation is instructions to follow and analyze the diagram below the complete 5509 50 507MLG equals 43.6%, MLI equals 46.4%, GH equals $35.81 calls equals style equation to the 4396 equals I’m
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What is the difference between demand deposits and near money? Thanks!
GalinKa [24]

demand deposits - a deposit of money that can be withdrawn without prior notice

near money - assets that can readily be converted into cash, such as government bonds

just google the definitions and read about it

7 0
3 years ago
"Jason likes to drink a particular brand of soda and has been drinking that brand of soda for the last ten years. Lately, one of
Vedmedyk [2.9K]

Answer:

<u>Variety seeking </u>

Explanation:

Variety seeking buying behavior refers to consumer behavior wherein, a consumer seeks different kinds of goods and substitutes and prefers variety rather than sticking to one particular product.

Variety seeking consumers don't mind switching from one product to another since they tend to get bored quickly by consuming the same product time and again. Such consumers lack product loyalty and don't forge high involvement or association with any product.

Such behavior is prominent in case of products which don't have significant differences in the quality.

In the given case, Jason has been drinking a particular soda brand for a considerable length of time. Yet, when a new brand emerges and gains popularity, for no valid reason he wants to give it a try. This behavior is variety seeking behavior.

6 0
3 years ago
When a full set of general purpose financial statements are presented, comprehensive income and its components should:
Usimov [2.4K]

When a full set of general-purpose financial statements are presented, comprehensive income and its components should (D) be presented as part of the Income Statement or as a separate financial statement following the Income Statement.

<h3>Comprehensive income and its components:</h3>
  • Comprehensive income and its components should be reported as part of the Income Statement or as a separate financial statement after the Income Statement when a full set of general-purpose financial statements is furnished.
  • Net income (or loss) plus/minus other comprehensive income items, which may include, for a period: (a) a minimum pension liability adjustment, (b) any unrealized gain or loss on available-for-sale investments, (c) a foreign currency translation adjustment and gain/loss on the related hedge, and (d) the effective portion of cash flow hedges.
  • For-profit entities are required by US GAAP to report comprehensive income and its components for a period (unless the entity has no other comprehensive income) in one of two statements:
  1. In the form of a separate "Statement of Comprehensive Income"
  2. Or when paired with the Income Statement, a "Statement of Net Income and Comprehensive Income" is produced.

Therefore, when a full set of general-purpose financial statements are presented, comprehensive income and its components should (D) be presented as part of the Income Statement or as a separate financial statement following the Income Statement.

Know more about comprehensive income here:

brainly.com/question/19908089

#SPJ4

The correct question is given below:

When a full set of general-purpose financial statements are presented, comprehensive income and its components should:

A. Appear below income from continuing operations in the Income Statement.

B. Reported net of related income tax effect, in total and individually.

C. Appear in a supplemental schedule in the notes to the financial statements.

D. Be presented as part of the Income Statement or as a separate financial statement following the Income Statement.

5 0
2 years ago
8. Problems and Applications Q8
Liono4ka [1.6K]

The quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise.

<h3>What does a union among workers represent in economy?</h3>

In the macroeconomic model, a union among workers will increase the wage rate, thereby the supply of manufacturing workers will also increase.

This phenomenon is associated with a decrease in the demand and quantity of manufacturing workers.

In conclusion, the quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise if manufacturing workers formed a union.

Learn more about the macroeconomic model here:

brainly.com/question/23160076

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5 0
2 years ago
What are the non-strategic (operational) decisions in the business? For example, what non-strategic decisions Coca-Cola company
Rainbow [258]

What distinguishes an outsourcing arrangement from any other business arrangement is the transfer of ownership of an organization’s business activities (processes or functions)-or the responsibility for the business outcomes flowing from these activities-to a service provider. In a typical outsourcing arrangement, the people, the facilities, the equipment and the technology (the Factors of Production) are also transferred to the service provider, which then uses the Factors of Production to provide the services back to the organization. The people are often transferred to the service provider, but this is not always the case.

An outsourcing arrangement can be either “tactical” or “strategic.” An outsourcing is tactical when it is driven by a desire to solve a practical problem. For example, a company may find that its payroll clerk is not able to process payroll changes, cheques, tax returns and make the required accounting entries on time. The company concludes that although the payroll clerk is competent, there is too much work for a single person. The company outsources the payroll process (including the clerk), and ends up with all of the payroll work done on time and at a lower cost. As a result, it achieves a net gain in operational efficiency. Similarly, if an organization outsources its IT infrastructure so it can save five to 10 per cent on the cost of operating that function, the outsourcing is purely tactical.

“Strategic” outsourcing, on the other hand, is not driven by a problem-solving mentality. Instead, it is structured so that it is aligned with the company’s long-term strategies. The changes that organizations expect from strategic outsourcing vary and can include anything from

7 0
3 years ago
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